OmniAb (NASDAQ:OABI) Issues Earnings Results

Key Points

• OmniAb beat expectations in Q1, reporting earnings of $(0.06) per share versus the expected $(0.10), while revenue came in at $14.43 million, far above the $5.60 million consensus estimate.
• The company said revenue growth was driven by partner milestones and raised its full-year 2026 revenue guidance to $28–33 million, supported by 107 active partners, 409 active programs, and more than $3 billion in contracted milestone potential.
• OmniAb highlighted several upcoming catalysts, including clinical progress for TEV-'408, J&J’s romantamig, and ASCO presentations, but it also recorded a $2.9 million non-cash impairment and expects year-end cash of $33–38 million.

OmniAb (NASDAQ:OABI - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04, FiscalAI reports. The company had revenue of $14.43 million during the quarter, compared to analysts' expectations of $5.60 million. OmniAb had a negative net margin of 187.59% and a negative return on equity of 20.19%.

Here are the key takeaways from OmniAb's conference call:

• OmniAb reported Q1 revenue of $14.4 million (vs. $4.2M year‑ago) driven by partner milestones and has raised full‑year 2026 revenue guidance to $28–33 million.
• The company cites 107 active partners, 409 active programs and more than $3 billion in contracted milestone potential with an average royalty rate of ~3.4%, providing visible downstream economics.
• Product momentum — newly launched OmniUltra (ultralong CDRH3 chickens) and existing OmnidAb single‑domain programs have advanced into the clinic, while the xPloration instrument is seeing growing demo demand and could create recurring instrument/consumable revenue.
• Multiple near‑term clinical catalysts may drive future milestones and royalties, including Teva’s TEV‑'408 vitiligo readout in H1, J&J’s romantamig moving to Phase III, and several ASCO presentations; the company notes ~$350M remaining potential milestones from clinical‑stage programs.
• Q1 included a $2.9M non‑cash impairment that pushed GAAP operating expense guidance to $83–88M and the company now expects year‑end cash of $33–38M (quarter‑end cash was $49.1M), which tightens reported financial metrics despite unchanged cash operating expense guidance.

OmniAb Price Performance

NASDAQ:OABI traded up $0.19 during mid-day trading on Friday, reaching $1.66. The stock had a trading volume of 5,663,787 shares, compared to its average volume of 621,524. The company has a market capitalization of $240.33 million, a price-to-earnings ratio of -3.61 and a beta of 0.07. OmniAb has a 1-year low of $1.22 and a 1-year high of $2.30. The stock's 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.73.

Analyst Upgrades and Downgrades

Several research firms recently commented on OABI. Weiss Ratings cut OmniAb from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Wall Street Zen raised OmniAb from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Benchmark reissued a "buy" rating on shares of OmniAb in a research report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.50.

Insider Transactions at OmniAb

In other OmniAb news, CEO Matthew W. Foehr sold 19,244 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $1.49, for a total transaction of $28,673.56. Following the transaction, the chief executive officer owned 4,420,492 shares of the company's stock, valued at $6,586,533.08. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 117,703 shares of company stock worth $193,597 in the last 90 days. Corporate insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On OmniAb

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in OmniAb in the first quarter worth $25,000. Osaic Holdings Inc. lifted its position in shares of OmniAb by 214.4% in the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company's stock worth $25,000 after buying an additional 9,716 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of OmniAb by 92.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company's stock valued at $35,000 after buying an additional 10,438 shares during the period. Cerity Partners LLC grew its position in shares of OmniAb by 111.5% during the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company's stock valued at $39,000 after buying an additional 11,919 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in OmniAb in the second quarter worth about $53,000. 72.08% of the stock is currently owned by institutional investors.

About OmniAb

OmniAb, Inc NASDAQ: OABI operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.

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